601 Corona Pl is an office property for lease in Cloudcroft, NM.
ONLINE AUCTION :: SEPTEMBER 17TH
The Lodge Resort & Spa
OPENING BID :: $1,000,000 - Less than $17,000 per room
INITIAL DEPOSIT REQUIRED TO BID :: $50,000
:: INVESTMENT SUMMARY
On Wednesday, September 17, 2014, CBRE Auction Services is pleased to present for auction the unique opportunity to acquire The Lodge Resort & Spa in Cloudcroft, New Mexico. This 59-room resort includes ±48.46 acres of developable land and is nestled in the Village of Cloudcroft in the Sacramento Mountains. The Lodge Resort & Spa is comprised of three separate buildings – The Lodge, Pavilion and Executive Retreat buildings. The Lodge and Pavilion were built in 1899 and the Executive Retreat was built in 1960. The resort features the award-winning Rebecca’s Restaurant specializing in continental and Southwestern cuisine, a breathtaking 9-hole Scottish tradition golf course, The Spirit of the Mountain Spa, unique shopping and over 11,000 square feet of meeting space. This represents a unique opportunity for an investor to acquire a high-quality historic asset within an attractive tourist market.
- Strong Revenue and Potential Cash Flow – Over the years the property has experienced strong revenues and has very good potential to improve cash flow
- Attractive Regional Resort Destination – The Lodge Resort & Spa benefits from its exceptional location less than 2 hrs from El Paso, TX and 3.5 hrs from Albuquerque, NM.
- Development Potential – Approximately 48 acres of land within and adjacent to the golf course with potential to develop residential resort properties including single family, townhomes or condos.
- Branding Opportunity – The opportunity exists for a new owner to align the existing Lodge Resort & Spa into a nationally recognized brand, such as Ascend Collection by Choice Hotels or Leo Hotel Collection by Red Lion which may enhance market penetration and increase revenues.
- Unencumbered by Management – This property is being is offered free of management encumbrances, allowing a new owner to pursue a business plan that maximizes the property’s potential.
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